Amer Sports (NYSE:AS) Updates FY24 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.43-0.45 for the period, compared to the consensus earnings per share estimate of $0.44. The company issued revenue guidance of +16-17% yr/yr to $5.07-5.11 billion, compared to the consensus revenue estimate of $5.08 billion. Amer Sports also updated its FY 2024 guidance to 0.430-0.450 EPS.

Amer Sports Stock Up 1.1 %

NYSE AS opened at $19.54 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. Amer Sports has a one year low of $10.11 and a one year high of $20.68. The stock has a 50 day moving average price of $17.33 and a 200-day moving average price of $14.73.

Amer Sports (NYSE:AS) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The company had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. Amer Sports’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Amer Sports will post 0.44 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AS shares. TD Cowen raised their price objective on Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. UBS Group raised their price target on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company downgraded Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Evercore ISI reaffirmed an “outperform” rating and set a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. Finally, Citigroup lifted their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.57.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.